The check for compensation for your car is not taxable particularly if you are replacing or repairing the vehicle and no additional benefit is realized
The other check for lost wages and for pain and suffering is a little complicated. Based on the amount you are receiving, it is best you consult a tax professional as payments for future loss wages spanning more than one year can be tricky in figuring out what is taxable.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
